Amgen Extends Tour Of California Title Sponsorship For Two More Years

California-based biotech company Amgen will continue its title sponsorship of the Tour of California bicycle race for two more years. Two independent sources with knowledge of the race confirmed the deal, which is believed to be valued in the mid-seven-figure range. The eight-day race began in '06 and is owned and operated by AEG Sports. It has grown into the largest professional bicycle race in the U.S. and each year attracts riders and teams that compete in the top events in Europe. Sources valued the race’s operating cost in the $12M range. Amgen used the race to launch its Breakaway From Cancer initiative in '08. Amgen signed an initial three-year deal with the race in '06 and signed a three-year extension in '08. That deal came to an end on May 22 at the completion of the '11 race.